Earnings, Bull Notes Lift Thor Industries Stock to Record High

Meanwhile, Jefferies is bullish on Meredith's purchase of Time

Nov 28, 2017 at 9:39 AM
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Analysts are weighing in on RV manufacturer Thor Industries, Inc. (NYSE:THO), media stock Meredith Corporation (NYSE:MDP), and Puerto Rican financial concern Popular Inc (NASDAQ:BPOP). Here's what's moving shares of THO, MDP, and BPOP.

THO Stock Touches Record High After Earnings

Thor Industries stock is up 11.5% to trade at an all-time high of $152.49, after the company last night posted a fiscal first-quarter earnings beat. In response, BMO raised its price target to $150 from $135 while SunTrust Robinson boosted its price target to $165 from $140.

This outperformance is nothing new for the RV maker, with the shares now having tripled in value since early 2016. It's also helped that short sellers have been covering their positions, illustrated by a nearly 16% drop in these bearish bets during the most recent reporting period alone. But Thor Industries' short-interest ratio is still a healthy 4.70, so there's room for more short covering.

Jefferies Upgrades Meredith Stock After TIME Deal

Jefferies this morning weighed in on Meredith's purchase of Time (TIME), saying the move creates compelling value. The brokerage firm upgraded MDP to "buy" from "hold" and increased its price target to $80 from $56. As such, the shares are pushing higher once again, last seen 1.2% higher at $68.35, but are holding below yesterday's record high of $69.50. The security was trading at $53 coming into November.

There's room for more bullish analyst attention, too, since just two of six brokerage firms say MDP is a "strong buy." However, the stock has a 14-day Relative Strength Index (RSI) of 83, well into overbought territory, so a short-term pullback could be on the horizon.

KBW Bullish on Puerto Rico Banks

Shares of Popular are up 0.8% at $35.13, after KBW raised its rating to "outperform" from "market perform," saying Puerto Rico bank stocks are trading at a major discount. BPOP has shed 13% over the past year, hitting an annual low of $32.05 on Oct. 19. Still, most analysts actually share KBW's bullish outlook, with four of six brokerage firms issuing "strong buy" recommendations. Plus, the average 12-month price target stands all the way up at $44.83.

 

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